Below are three retirement savings loopholes that may be here today, gone tomorrow. Tomorrow of course being in 10 years when legislation manages to get passed in our gridlocked government. Don’t panic, but just be aware that just because something…
Even financial planners have a rough time getting Social Security information. I recently tried to log in to my Social Security account and was told that an account couldn’t be created for my Social Security Number. “Please contact us for…
For the first time in US history, consumer spending at restaurants and bars is more than spending at grocery stores. According to the US Census Bureau and Haver Statistics, in March $50.1 billion was spent in grocery stores vs. $50.4…
Do you ever think, “if only I made $X amount per year I wouldn’t worry about money.” Or maybe, “if I had $1million in the bank, I wouldn’t worry about money.” Guess what? It’s not true! According to a MartizCX…
This last method of spending down different accounts is probably the most popular. Method #3 I’ll call the Pro-Rata System. Simply put, you take a proportionate percentage out of each type of account every year. For example, say you have…
Last week, we talked about spending down retirement money starting with already-taxed assets, then tax-deferred accounts, and ending with Roth IRAs. This week, we look at spend down Method #2: Tax-deferred (Traditional IRAs, 401(k)s) first, taxable (non-retirement) accounts second, Roth…
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